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Tuesday, November 20, 2007

Rate Cut Chatter, Housing Data Push Stocks Higher

From Foxnews.com, Tuesday, Nov. 20 2007

Slightly positive news on the embattled housing market and speculation that the Federal Reserve might cut rates in an emergency action pushed stocks higher Tuesday, helping them rebound from yesterday's 200 point loss. The Federal Reserve's Federal Open Market Committee releases the minutes from its Halloween meeting at 2 p.m. EST. The minutes will debut a new set of economic data that Fed Chairman Ben Bernanke highlighted last week on Capitol Hill, which will now take a three-year outlook on the economy instead of two. The minutes will also focus more on what's known as "headline" inflation, which takes into account food and energy prices when calculating the cost of goods.Rumors of a possible emergency interest rate cut by the Fed are running around Wall Street, according to reports by Dow Jones Newswires.

- Ken Sweet
FOXBusiness
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